Investing in bitcoin before 2019 ends is a good idea now that bitcoin is showing a promising future, Even up till now a lot of people still think there are no more opportunities left to invest in Cryptocurrency, Bitcoin to be precise. The fact is, there are more opportunities than you can ever think of.
Bitcoin has been on top of the crypto chain since its invention and still remain on top till now. Diving into Cryptocurrency investment before 2019 ends is a good idea. Especially now that the price of bitcoin is rising. Even though the price is rising, there are a lot of loopholes for investment.
Here are some of the reasons why you should invest in bitcoin before 2019 ends.
Bitcoin is one of the simplest forms of investment. People with no investment experience and no advice from Cryptocurrency investment expert finds it difficult on which coin to invest in, especially now that there are over 150 coins in the crypto ecosystem.
Now that there is a lot of Cryptocurrency wallet, investment is now made easy. Cryptocurrency wallets such as Coinbase and Coinomi have over 10 million users of which most of them are Bitcoin investors.
There are a lot of investment funds in Cryptocurrency which gives investors easy access to various Cryptocurrency to invest in. Bitcoin has the largest and widespread Blockchain Adoption rate in history.
Currently, there are over 2000 cryptocurrencies in the market but bitcoin still dominates 57% of the entire market cap. Bitcoin has grown from time to time due to its blockchain technology and speculations.
This shows that Bitcoin is well-known worldwide and can be found in almost all Cryptocurrency wallet making it easy to invest and accessed compared to all crypto coins.
There is a high rate in the use of bitcoin in countries such as Peru, Colombia, Argentina, USA, China and many more and now that the price of bitcoin is closer to $8000 this year, the adoption rate is multiplying exponentially.
Popular companies, Apple, Amazon, and Facebook are being rumored to be adopting the blockchain tech slowly.
Individuals like John McAfee, Sony Singh, Tom Lee, Mike Novogratz have an optimistic view for Bitcoin investment and believe that the price of bitcoin might reach 10,000 USD or more at the end of 2019
There are a lot of investors involve in bitcoin aspiration. The Winklevoss twins have also invested so much of their time fighting for Bitcoin ETF. Bitcoin is a successful digital asset so far.
Bitcoin has one of the fastest tactical transactional systems due to its newly introduced lighting network. The blockchain together with the lighting network creates fast and more complementarity payment system which is better compared to other modes of payment.
Now that bitcoin is on a bullish run, this is a perfect time to invest, especially if you are looking for a big return after investing with minimum cash.
It is advisable to focus on long term viability than the short term when investing. Bitcoin Investors become obsessed when they invest in short term projects with small price variation which might affect the outcome of their investment due to wrong decision making in terms of investment.
Most investors are still contemplating about how bitcoin will end in a bearish period, even though the bitcoin market looks strong especially in price action. This might be a good time to before 2019 ends.
John McAfee Doubles Down On His $1 million BTC Price Prediction. This Time Raising The Bar, Predicting $2 million Before 2020’s End
You probably will think John McAfee has lost his mind with his predictions. Firstly, a $1 million BTC price, now $2 million before the end of 2020. However, taking a critical look at things fundamentally, some few factors may drive his prediction to come about.
John McAfee, who’s so sure of his prediction has in the past said he would feed on his genitals on national TV if it didn’t come to pass. In his recent forecast, Mr. McAfee, who’s undoubtedly convinced of his position said;
“If Bitcoin is less than $2 million by the end of 2020, then mathematics itself is a flawed disappointment.”
Nevertheless, here are a few factors that could see John McAfee’s outrageous prediction come true.
#1. 2020 Bitcoin Halving
The 2020 bitcoin halving is probably the most anticipated event for bitcoin holders investors. The event, slated for May 2020 would see bitcoin’s reward slashed into two – from its present 1,800 daily rewards to 900. When this happens, it’s expected that the value of bitcoin rises drastically as the asset becomes more scarce.
#2. Global Recession
Countries such as Venezuela is on top of the list of those facing economic turmoil. This situation leaves its citizens looking for a better option – a way to preserve their wealth from drastically declining in value.
It has led to a lot of people seeking refuge in bitcoin. However, Venezuela isn’t alone in this, and if more countries join in, the value of bitcoin could rise exponentially.
#3. Institutional Investors
Another factor that could propagate bitcoin’s adoption would be when Wall Street fully takes an interest in bitcoin. At the moment, things are starting to light up from this angle. Bakkt’s launching, though having a sluggish start, without a doubt has begun to receive some attention from institutional investors.
As reported by ZyCrypto, there was a glimpse of interest from institutional traders when trading volume on the Bakkt exchange reached 224 BTCs on Wednesday, 9th October 2019. However, a full adoption by these investors is expected to give bitcoin’s value a considerable boost.
#4. Bitcoin’s Scarce Nature
Bitcoin is scarce by design. There are only 21 million of it that will ever be. Unlike fiat, where millions are printed periodically, the world is literally fighting to have a piece of the bitcoin pie. It means having it at any price. This demand would, therefore, drive bitcoin price high, several percentages.
While all the above mentioned are true factors that may drive bitcoin adoption, and its price high, a $2 million price prediction for Bitcoin may seem like an over-exaggeration. However, only time would tell as the world watches events roll by.
Let us know what you think in the comment box below.
In Peter Brandt’s Opinion, Bitcoin is in its Fourth Parabolic Phase as it Heads Towards $100k
A lot of crypto analysts seem to have taken a bullish stance on Bitcoin despite the asset’s recent decline in its price. One of such is Peter Brandt, a veteran trader who said on September 1, 2019, that Bitcoin has entered its fourth parabolic phase. As such, the cryptocurrency could set another record, rallying to a new all-time high soon.
Peter Brandt’s Past Predictions
Peter Brandt is popularly known for his forecasts and has gained the interest of many traders as some of his predictions have come true in the past. For starters, he correctly predicted an 80% dump in Bitcoin’s price in January 2018, and it turned out to be the case by the year’s end. The iconic trader also forecasted a bull run in April, and by June, Bitcoin spiked to its year-to-date high of $13,796.
Of recent, Brandt also opined that Bitcoin has entered its fourth parabolic phase, which could do a lot of good for the crypto market. A phase, of this nature, could potentially take Bitcoin’s price beyond its present all-time high of about $20k. How high? One may wonder, it could be towards the $100,000 he says.
Raoul Pal Says It’s Now or Never
Brandt’s tweet was also linked to that of Raoul Pal, CEO of Global Macro Investor and Real Vision Group. According to Pal, a wedge pattern has just been exhibited in the Bitcoin short term chart. Moreover, it is not just any wedge, but one that has shown a high potential for success in the past.
Pal further remarks that this may be the last time for those who do not have Bitcoin to dive into the market. In his opinion, there could be a rocket in Bitcoin’s price soon; a prediction that is similar to that of Brandt’s.
Crypto Twitter Objects
On the other hand, some members of Crypto Twitter who made comments were in disagreement with Brandt’s and Pal’s opinion. These individuals remarked that the wedge pattern which Brandt and Pal spoke of is a pennant. A pennant, in their opinion, is a signal of a major dump in price in a crypto asset.
Despite the contrary views, there is still a high chance for the fulfillment of Brandt’s prediction. For beginners, Bitcoin’s halving in May 2020, which will reduce the amount of Bitcoin’s supplied to the market, could help to surge its price significantly. PlanB, for instance, had predicted in March that Bitcoin could rise to $55,000 after its halving in May 2020.
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